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DAX Edges Higher In Cautious Trade
(RTTNews) - German stocks edged up slightly on Monday after a brutal sell-off last week on concerns over rising inflation and slowing global growth.
German producer price inflation rose to a fresh record high in May, driven by energy prices, data from Destatis showed earlier today.
Producer prices logged a double-digit growth of 33.6 percent year-on-year in May, following April's 33.5 percent increase. The rate was forecast to grow again by 33.5 percent.
On a monthly basis, producer prices gained 1.6 percent after rising 2.8 percent in April. Economists had forecast prices to climb 1.5 percent.
The benchmark DAX rose 47 points, or 0.4 percent, to 13,173 after rising 0.7 percent on Friday.
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Yen Slides Against Majors
The Japanese yen strengthened against other major currencies in the Asian session on Thursday.
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Bank Of Japan Retains Rate As Expected; Cuts Growth Outlook Amid Tariff Uncertainty
The Bank of Japan left its interest rate unchanged for the second consecutive meeting on Thursday, and downgraded its growth projections citing trade tariff threats. The policy board decided, by a unanimous vote, to hold the uncollateralized overnight call rate to remain at around 0.50 percent. This was the highest level since the global financial crisis in 2008.
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European Economic News Preview: UK Mortgage Approvals, Factory PMI Due
Mortgage approvals and final manufacturing Purchasing Managers' survey results from the UK are the major reports due on Thursday, while most of the European markets are closed for the Labor day holiday. At 2.30 am ET, Switzerland's Federal Statistical Office releases retail sales data for March. Sales are forecast o grow 1.9 percent on a yearly basis, following a 1.6 percent rise in February.
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Canadian Dollar Climbs Against Most Majors
The Canadian dollar strengthened against most major currencies in the Asian session on Thursday.
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NZ Dollar Advances Against Most Majors
The New Zealand dollar strengthened against most major currencies in the Asian session on Thursday.
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Australian Dollar Rises Against Majors
The Australian dollar strengthened against other major currencies in the Asian session on Thursday.
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Australian Market Turns To Modest Gains In Mid-market
The Australian market is turning its early losses to modest gains in mid-market moves on Thursday, extending the gains in the previous five sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well above the 8,100 level, with gains in some technology stocks nearly offset by weakness in mining and energy stocks amid softer commodity prices.
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Asian Markets Mostly Higher In Holiday Trade
Asian stock markets are mostly higher on Thursday, following the mixed cues from Wall Street overnight, with most major markets in the region closed for Labor Day, including China. Traders booked some profits after the recent upside in markets and a report showing the U.S. economy unexpectedly shrank in the first three months of 2025 generated some optimism about the outlook for interest rates.
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